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As Google shares plummeted and eventually halted trading on Thursday following the premature release of the company's third quarter earnings report, there was no one more stung than the search giant's cofounder and CEO Larry Page, whose "pending quote" became the Wall Street laughing-stock of the day.

Page's net worth fell more than $1.5 billion due to Google's precipitous drop in share price, as the Mountain View, Calif.-based company's profit miss was compounded by a press release gaffe that sparked ridicule from commentators and the social media sphere. Together, with fellow cofounder Sergey Brin, Google's two leaders lost a combined $3 billion in one day, according to Forbes’ Real-Time Billionaires Index

Google, which was supposed to post its earnings after the bell on Thursday, unexpectedly released figures around 12:31 PM Eastern, revealing a big miss on profit. That mistake, which Google has since blamed on financial printer RR Donnelley for filing the earnings statement "without authorization," caused the company's stock to drop more than 9%, before shares were halted from trading on the Nasdaq. Shares began trading later on Thursday and Google shares ended the day down $60.49, or 8.01%, to close at $695.00.

The drop in share price and net worth for the two Google cofounders, comes only weeks after the company's stock--and Brin and Page's fortunes-- hit all time highs. Brin and Page, whose net worths are largely derived from their Google equity, are worth $20.7 billion and $20.8 billion respectively as of today’s closing share price. On the 2012 Forbes 400 List, which ranks the United States’ wealthiest individuals and used stock prices from late August, both were worth $20.3 billion.

Google chairman Eric Schmidt also lost more than $480 million on the day. Schmidt’s net worth, which was estimated to be $7.5 billion on the Forbes 400, is now approximately at that same level.

In its earnings, Google revealed it earned $9.03 per share in the third quarter, below the consensus estimate of $10.63; GAAP EPS came in at $6.53. That disappointment was exacerbated by the early earnings release, which featured an incomplete press statement with a line that read "PENDING LARRY QUOTE." The release has since been corrected, but not before sparking Twitter jokes and a Larry Page parody account, @PendingLarry.

“We had a strong quarter. Revenue was up 45 percent year-on-year, and, at just fourteen years old, we cleared our first $14 billion revenue quarter,” said Page, in the now revised statement. “I am also really excited about the progress we’re making creating a beautifully simple, intuitive Google experience across all devices.”